Benton REA’s new heat pump program offers members an incentive to upgrade their electric heating system.
Rebates are available from $150 to $1,550 depending on a number of factors, including the availability of funds. The sample project below shows an example of savings for a typical home installation.
Sample Project:
Upgrade from an electric furnace (ducts outside) to a new high efficient heat pump.
Estimated Cost (varies significantly) $6,000
Benton REA Rebate $1,050
Fed Tax Credit (30% up to $1500) $1,500
Cost After rebate & Tax credit $3,450
Sample project payback:
Cost $3,450
Estimated savings per year $720
Payback in years 4.8
To find out if you qualify for this program and to get a list of certified contractors, e-mail Eric Miller or call 509-786-2913 or toll free at 800-221-6987. Click on Heat Pump Completion Form for a pdf version of the completion form that must be filled out and returned to Benton REA.
Heat Pump Loans
Benton REA also offers heat pumps loans in which the payments are simply added to your monthly electric bill. Upon approval, Benton REA loans up to $10,000 at a fixed interest rate. Repayment schedules can be set for payments to be made over a five-year (60 months) period. Requirements for eligibility are described on the application.
Don't forget to enclose your proof of income and the HVAC contractors bid with your completed application.
Click on Heat Pump Loan Application to get a pdf file of the application. Send your completed application to Benton REA by email to Ann Roth, by mail to P.O. Box 1150, Prosser, WA 99350, or drop it off to one of our three local offices.